Best Practices - Facilitating a Timely Audit
The majority of municipalities have demonstrated that they have the financial controls, processes, and reporting systems in place to facilitate the timely issuance of their annual audit reports. However, for the past several years, the Office of Policy and Management (OPM) has observed a significant increase in the number of municipalities submitting late audits reports. With this in mind, OPM working with several municipalities, consultants, and the Municipal Finance Advisory Commission (MFAC) is making available its recently developed “Best Practices Guide – Facilitating a Timely Audit” and the Supplement to the Guide. The documents provide several planning tools including checklists to assess the municipality’s overall audit readiness and a Finance Office Calendar timeline of key tasks that should be performed during the municipality’s fiscal year to ensure a timely audit.
Documents:
Best Practices - Facilitating a Timely Audit
For Further Information, Please Contact:
William Plummer: phone (860) 418-6367 - e-mail bill.plummer@ct.gov